Holland Plain Drew One Bid — and the Price Was Exactly What Analysts Expected

12 May 2026Blog District 10 CCR

The Holland Plain land sale site, outlined in red off Old Holland Road

On 12 May the Urban Redevelopment Authority awarded the Holland Plain site to Sim Lian Land and Sim Lian Development for $454,000,000 — $1,491 per square foot per plot ratio.

It was the only bid. Analysts had expected three to six.

The interesting part is what happened to the price. With one bidder and no contest, you would expect the number to come in soft. It didn’t: $1,491 sits inside the $1,400 to $1,500 psf ppr band analysts had forecast before the tender closed.

What URA awarded


Site area	15,716.9 m² (1.57 hectares)
Maximum gross floor area	28,291 m² (304,522 sqft)
Allowable development	Residential
Tenure	99 years
Tendered price	$454,000,000 — $1,491 per square foot per plot ratio
Tender launched	25 February 2026
Tender closed	7 May 2026

Source: Urban Redevelopment Authority, 12 May 2026.

One bid at the expected price is a different signal from one bid at a low price

These two things are usually confused, and they mean opposite things.

A site that draws one bid below the expected range is being avoided — the market has looked and declined. A site that draws one bid inside the range has been priced properly by the one party that wanted it; the others simply had somewhere else to put their money.

Holland Plain is the second kind. Sim Lian did not get a bargain because nobody showed up. They paid what the site was reckoned to be worth, and kept it.

Read alongside Berlayar Drive in August — also a single bid, also at a record rate — a pattern shows up in this year’s tenders: fewer bidders per site, without the prices weakening. Developers are being selective about where they commit, not about how much.

What is being built

About 280 private homes in the new Holland Plain precinct, in District 10 — the Bukit Timah and Holland belt, the school catchment families move for, and an address with very little new supply.

That last point is why a site here sells at this rate regardless of how many people bid. Land in District 10 does not come up often, and when it does, it does not come up again soon after.

What I would take from this

If you are buying in Bukit Timah or Holland, 280 homes is a small addition to a district that rarely gets any. This will not move prices around you; it gives you one more option in a few years’ time.

If you own here, the useful fact is the rate rather than the bid count. A developer paid $1,491 psf ppr for land next to you at a moment when several of their competitors were sitting out. That is a considered price, not an auction result.

If you are waiting to see whether this year’s thin bidding means prices are falling, this tender is the argument against it. One bidder, no contest, and the price still landed where the market said it would.

Common questions

Who won the Holland Plain site?

Sim Lian Land and Sim Lian Development, at $454,000,000 — about $1,491 per square foot per plot ratio. It was the only bid submitted when the tender closed on 7 May 2026.

Why did only one developer bid?

Analysts had expected three to six bids. The single bid was read as developers being selective about where they commit capital rather than as weak demand for the location — the price still landed inside the $1,400 to $1,500 psf ppr range that had been forecast.

How many homes will be built?

About 280, on a 1.57-hectare site with a maximum gross floor area of 304,522 sq ft, on a 99-year lease, in the new Holland Plain precinct in District 10.